Revised Budget Seeks To Block Redevelopment Transfers

Source: Daily Journal

3/17/2011

In a March 17, 2011 article on Governor Jerry Brown’s efforts to do away with the state’s 397 redevelopment agencies, the publications quoted Cox Castle & Nicholson partner Stephen Ryan on the issue. Ryan called the effort “troubling,” but noted that a section of the legislation would require agencies to show which contracts they must honor. “Rather than all of us worrying about what is or isn’t a real obligation, this is going to create a process,” Ryan said. “Developers can go forward knowing there is an agreement and that was a big hole in the earlier version.”